10x Genomics (NASDAQ:TXG) Sets New 1-Year Low at $26.48

Shares of 10x Genomics, Inc. (NASDAQ:TXG) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $26.48 and last traded at $26.62, with a volume of 131771 shares changing hands. The stock had previously closed at $27.52.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TXG. Stifel Nicolaus cut their price target on 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Barclays cut their target price on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.22.

10x Genomics Stock Performance

The stock has a fifty day simple moving average of $37.70 and a 200 day simple moving average of $42.52. The firm has a market cap of $3.29 billion, a P/E ratio of -12.71 and a beta of 1.90.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The business had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. 10x Genomics had a negative return on equity of 28.82% and a negative net margin of 41.17%. 10x Genomics’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) earnings per share. Research analysts predict that 10x Genomics, Inc. will post -1.47 earnings per share for the current year.

Insider Activity

In related news, insider Benjamin J. Hindson sold 2,613 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the sale, the insider now owns 283,059 shares in the company, valued at $13,116,954.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total value of $121,086.42. Following the transaction, the insider now owns 283,059 shares of the company’s stock, valued at $13,116,954.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 1,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the sale, the chief executive officer now owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The disclosure for this sale can be found here. Insiders sold 12,959 shares of company stock valued at $592,806 over the last three months. Insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TXG. SVB Wealth LLC lifted its position in shares of 10x Genomics by 92.1% during the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock valued at $80,949,000 after buying an additional 693,422 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in 10x Genomics by 32.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock valued at $127,786,000 after purchasing an additional 565,059 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of 10x Genomics in the fourth quarter worth approximately $234,000. ARK Investment Management LLC increased its stake in shares of 10x Genomics by 35.0% in the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 10x Genomics by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock valued at $367,270,000 after purchasing an additional 354,921 shares during the period. 84.68% of the stock is currently owned by institutional investors.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.